Cryptocurrency is booming right now and you’re probably thinking where to invest your crypto coins. Marketplaces are popping up across the web that allow users to buy and sell NFTs with cryptocurrency! OpenSea is one of them, and it’s worth a look.
If you’re familiar with cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the biggest and leading marketplaces among cryptocurrency users because of its security and rapid transactions.
So, hop on board and discover the possibilities of OpenSea, along with checking the NFTs available to view!
Before you continue, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review.
OpenSea as an NFT Marketplace Nft Neurofeedback Therapy
The goal to create OpenSea was to simply provide an online marketplace for artists to upload commissions with no additional fees. There are additional features which allow you to market your artwork without any issues.
For the registration process, you don’t have to give too many details about yourself. All you need to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that without going through many hurdles as you walk into NFTs.
OpenSea: Blockchain
The most popular cryptocurrency used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for most processes. It is also based on the Polygon blockchain to ensure low-cost and quicker trading.
With these two kinds of blockchains that are available it is possible to choose which one you want to upload your NFT on as a seller. This ensures the safety of your NFT as well as those who wish to buy it. Every transaction will be conducted by using the blockchain, so you should consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s an endless online mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork from an artist that you admire. Anyone can become a seller however it takes some time before anyone can become an established seller.
There are a variety of NFTs from the selection of NFTs available at OpenSea and you can become a part of the collection! You can set up your own personal market there, and also find NFTs you want to purchase for yourself.
> > Click Here to Explore OpenSea < <
What is an NFT?
In a recent advancement for the cryptocurrency industry the term “NFT” has been going around for so long on the internet that many millennials are familiar with it but aren’t exactly sure what it is. Let’s break down what an NFT is for any beginners in the field of cryptocurrency.
One of the new things that you can buy with cryptocurrency includes an NFT. An NFT is a non-fungible token that is very exclusive and cannot be substituted. This can be an item of rareness, such as rare baseball trading cards in mint condition or uncommon vinyl record.
There’s no limit on what an NFT can be as it’s a non-fungible object that you can sell on the internet. More straightforwardly, you can just imagine an NFT being a virtual collectible paid via cryptocurrency only.
Minting NFTs
Minting is like calling dibs to your NFTs. You are calling ownership over that particular token/item you uploaded on market, as you’re selling it. Usually, this becomes official after you fill in all the necessary information about the NFT and then submit it for sale on.
On OpenSea It’s a very simple process to mine your NFTs by going to the store and then create a collection! Input the appropriate and accurate information about your NFT and choose what kind of settings you want to use it with (e.g. blockchain and payments tokens). After that, you can finally upload it, if it’s within the 100 MB limit.
It is possible to wait and see how the transactions go from here on out to see if OpenSea is the marketplace for you.
> > Click Here to Explore OpenSea < <
What NFTs are available here?
At this point you’re probably asking yourself what kind of NFTs you shop for here and what kind of NFTs you can also sell if you decide to go that route. The kind of NFT it is indefinite since there’s a broad range of ways to approach it.
It is possible to sell trade cards, digital goods game assets, domain names, and even physical assets! Consider what you believe will yield the most profit by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager function is the one that separates OpenSea from the others. There’s no cost for gas when you use this feature to create and market NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you won’t have to spend on any additional charges.
Very few NFT marketplaces provide this feature, which is why this is great for you to earn a high return from your portfolio.
Referral Program
This Referral Program is another unique aspect of OpenSea to be admired. Similar to traditional online markets that offer advantages when you refer a friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll earn 2.50 percent of the sales amount, which means you can earn more cash from this act.
Other NFT marketplaces don’t have this feature and that’s another advantage OpenSea has over the other marketplaces.
> > Click Here to Explore OpenSea < <
Mobile Application
There’s an OpenSea mobile application, however it’s mostly used for perusing through the marketplace. It isn’t able to purchase or sell anything as you browse through the listing.
OpenSea’s mobile apps are available for the two platforms of iOS as well as Android. While you’re not able to buy or sell things, you can browse through the selections you’re looking for on the move.
Crypto Exchange Platforms
Various crypto exchange platforms are at your disposal, and you can convert your fiat money into cryptocurrency on these platforms. Nft Neurofeedback Therapy
You can convert your fiat money via your credit or debit card as well as Paypal via these reputable websites to exchange it for crypto:
- Binance
- CoinBase
- CoinMama
- Kraken
- Bittrex, and more!
Each of them has the option of converting them into ETH, which is the standard cryptocurrency payment option in OpenSea.
Crypto Wallets
Although OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets still more compatible with it than other. Because it is based using an ETH blockchain, all wallets with a connection to the same network are suitable for this site.
Here’s a list of several crypto wallets you can use in OpenSea:
- WalletConnect
- Coinbase
- TrustWallet
- OperaTouch
- Bitski
- Authereum and much more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, use on mobile devices only as well as the capability to purchase cryptocurrency with the credit card. Nft Neurofeedback Therapy
To know more about it, you can check their FAQs to see an overview of how you can begin and which other wallets are compatible with OpenSea.
> > Click Here to Explore OpenSea < <
Pros and Cons of OpenSea
As with many other crypto markets each one comes with advantages and disadvantages. OpenSea isn’t the only one to have this. You can read about its pros and pros here:
Pros
- Mobile apps are available that are compatible with iOS as well as Android.
- Smart contracts can be used to perform transactions.
- Security at the highest level with the help of blockchain.
- The best option for beginners to the crypto market and NFTs.
Cons
- Allows royalties of only 10% for artists (low royalties).
- You cannot buy or sell products through the mobile app.
- Only supports cryptocurrency as its method of payment.
- An Crypto digital wallet must be used for this marketplace.
Pricing
OpenSea is open to everyone who has any crypto currency in their cryptocurrency wallets. If you’re a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. In the end, you’ll easily recover that amount when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions Nft Neurofeedback Therapy
What is OpenSea?
OpenSea is an NFT marketplace that is designed to offer artists a way to market their work online and receive cryptocurrency as a method of payment. It’s a great platform for artists using the platform to market NFTs due to its no cost of gas and low commission fee rate you must pay.
You can browse and purchase an array of digital products on this NFT marketplace which is why you should definitely go through it!
Is OpenSea legitimate and secure?
The short answer is yes! OpenSea is a reputable marketplace since it was established in the year of 2018. Since its system is based on a blockchain and is secured, it is safe to claim that your transactions are safe and secure.
Furthermore as a seller you can become verified once you’ve earned a reputation. A blue checkmark will be assigned on your account or the collection you uploaded to reassure any customer. The OpenSea team reviews regularly the content to ensure users are safe.
How do I earn royalties on OpenSea?
However, as an artist, you’ll receive only up to 10 percent of the royalties after you upload the NFT. This is believed to be quite low in comparison to other NFT marketplaces.
What are the cryptocurrency options accessible in OpenSea?
Ethereum (ETH) is frequently utilized on this website and numerous others to cater for more cryptocurrency users. These are other cryptos you can use in the OpenSea marketplace:
- WETH
- USDC
- DAI.
These are the primary cryptocurrencies you can use to use OpenSea.
How do I pay for OpenSea? What are my payment options for OpenSea?
OpenSea is the only platform that allows cryptocurrency exchanges on its website. You can easily purchase or sell cryptocurrency on trusted platforms with fiat money. All you have be able to connect is your credit or Paypal for the transaction.
Does OpenSea have a desktop or mobile application?
As previously mentioned there’s an official mobile app by OpenSea for both iOS as well as Android. Download it at their respective app store and you can start exploring the collection now!
There is also a version for desktops that OpenSea can be downloaded via WebCatalog. With the desktop application you are able to manage multiple accounts and receive notifications about updates to your account while you’re on the desktop.
You can also easily access the website from the browser by going to their official website (https://opensea.io/).
